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Terms & Conditions

Welcome to RanaPay. We value your trust and are committed to protecting your personal information.
This Privacy Policy explains how we collect, use, and protect your data when you use our platform.

1. Introduction

This Terms and Conditions document (“Agreement”) constitutes a legally binding contract between RANAPAY INDIA PRIVATE LIMITED, a B2B financial technology company incorporated under the Companies Act, 2013, having its registered office at D30, Vibhuti Khand, Gomti Nagar, Lucknow, Uttar Pradesh – 226010, and operating under the brand name “RanaPay” (hereinafter referred to as “RanaPay”, “We”, “Us”, or “Our”), and any person (“User”, “Customer”, or “You”) who accesses, registers, or uses the RanaPay digital financial services platform, including but not limited to the website, mobile application, APIs, and associated services (collectively, the “Platform”).

RanaPay is a B2B financial services provider offering digital payment, fintech, and value-added services through authorized agents and distributors across India, fully compliant with RBI, NPCI, and other regulatory authorities. By using the Platform, You agree to be bound by these Terms and all applicable laws, regulations, and guidelines.

By accessing or using the Platform, You acknowledge that You have read, understood, and agreed to be bound by these Terms, including all applicable laws, regulations, and guidelines issued by the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), Information Technology Act, 2000, Digital Personal Data Protection Act, 2023 (DPDP Act), and other governing authorities.

If You do not agree with any provision of this Agreement, You must immediately discontinue the use of the Platform.

2. Definitions

3. Scope and Applicability

4. User Registration, KYC, and Account Obligations

4.1 Users must register with accurate details and undergo mandatory KYC as prescribed by RBI.

4.2 The User shall promptly update any change in their personal or banking details.

4.3 The User is responsible for maintaining the confidentiality of login credentials and OTPs.

4.4 RanaPay reserves the right to suspend, block, or terminate any account in case of:

  • Suspicion of fraud, impersonation, or money laundering,
  • Invalid or incomplete KYC, or
  • Non-compliance with RBI or RanaPay’s internal risk policies.

4.5 Periodic re-verification of KYC may be conducted as per regulatory or risk-based requirements.

5. Use of Services

5.1 The Platform may only be used for lawful transactions and personal or business purposes authorized under Indian law.

5.2 The User shall not use RanaPay to:

  • Conduct prohibited, fraudulent, or illegal transactions,
  • Engage in gambling, narcotics trade, terror financing, or pyramid schemes,
  • Circumvent transaction limits or exploit system vulnerabilities.

5.3 RanaPay may impose transaction or velocity limits in compliance with RBI or internal risk parameters.

5.4 Wallet balances are non-interest bearing and capped per RBI norms.

5.5 RanaPay may decline, reverse, or freeze transactions if they appear suspicious, non-compliant, or unauthorized.

6. Fees, Charges, Refunds, and Failed Transactions

6.1 Fees applicable to each Service will be transparently displayed before completion of a transaction.

6.2 Refunds for failed or incomplete transactions shall be processed within 3–7 business days as per RBI Turnaround Time (TAT) guidelines.

6.3 No fees shall be charged for reversal of failed transactions.

6.4 Merchant refunds shall be governed by the respective merchant’s refund policy.

6.5 Users are advised to retain transaction IDs and confirmation messages for dispute resolution.

7. Data Privacy and Security

7.1 RanaPay shall collect, process, store, and protect User data strictly as per the Digital Personal Data Protection Act, 2023, and RBI cybersecurity norms.

7.2 Data shall be shared only with regulated financial entities, payment networks, service providers, or government authorities when legally required.

7.3 RanaPay employs end-to-end encryption (TLS 1.2+, AES-256), role-based access control, and regular security audits.

7.4 Users have the right to access, correct, or request deletion of their data by contacting legal@ranapay.in.

7.5 RanaPay shall not sell or misuse User data for unauthorized purposes.

8. User Responsibilities and Prohibited Conduct

Users shall not:

  • Register multiple or fake accounts.
  • Manipulate referral bonuses or cashback programs.
  • Interfere with RanaPay’s operations, networks, or APIs.
  • Introduce malware or reverse-engineer software.
  • Engage in any act that may harm RanaPay’s reputation or infrastructure.

Violations may lead to account suspension, legal action, or reporting to regulatory or enforcement authorities.

9. Limitation of Liability

  • RanaPay functions as a payment facilitator, not as a bank or NBFC.
  • RanaPay is not liable for delays or failures caused by banks, NPCI, payment networks, or telecom operators.
  • Services are provided on an “as is” and “as available” basis without warranty of uninterrupted availability.
  • RanaPay’s maximum aggregate liability shall not exceed the transaction amount or ₹10,000, whichever is lower.

10. Suspension, Termination, and Dormancy

  • RanaPay may suspend or terminate User access in cases of:
    • Regulatory directions
    • Fraudulent or suspicious activity
    • Prolonged inactivity exceeding 12 months
  • Upon termination, any wallet balance shall be refunded to the User’s linked bank account after KYC validation.
  • RanaPay may retain transaction records as required by law.

11. Dispute Resolution and Grievance Redressal

11.1 Users shall first approach RanaPay’s Grievance Redressal Officer (GRO) at grievance@ranapay.in for resolution of complaints.

11.2 If unresolved within 30 days, Users may escalate complaints to the RBI Ombudsman or relevant authority.

11.3 This Agreement shall be governed by the laws of India.

11.4 The courts at Lucknow, Uttar Pradesh shall have exclusive jurisdiction over any disputes.

12. Amendments and Notices

12.1 RanaPay reserves the right to amend, update, or modify these Terms at any time, subject to applicable law.

12.2 Updated Terms shall be posted on the Platform and shall take effect immediately upon publication.

12.3 Continued use of Services constitutes deemed acceptance of such changes.

13. Intellectual Property Rights

13.1 All trademarks, software, designs, and content on the Platform are proprietary to RanaPay.

13.2 Users shall not copy, reproduce, or distribute any content without prior written consent.

14. Force Majeure

RanaPay shall not be liable for any failure to perform its obligations due to causes beyond its control, including but not limited to natural disasters, network failures, war, strikes, or regulatory restrictions.

15. Severability and Waiver

If any provision of this Agreement is found invalid or unenforceable, the remaining provisions shall remain in full force and effect. Failure by RanaPay to enforce any right shall not constitute a waiver.

Annexure A – Legal Definitions

Includes definitions consistent with the Information Technology Act, 2000, DPDP Act, 2023, and RBI Master Directions.

Annexure B – Regulatory References

  • Information Technology Act, 2000 and Rules.
  • Digital Personal Data Protection Act, 2023.
  • RBI Master Directions on PPIs, 2021.
  • RBI Guidelines on Payment Aggregators and Payment Gateways, 2020.
  • NPCI UPI Procedural Guidelines.
  • RBI Circular on Limiting Customer Liability in Unauthorized Electronic Transactions.
  • Consumer Protection Act, 2019.